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Toronto Home Sales Drop Most in Eight Years

  • Home sales in Canada’s biggest city drop 37% from year earlier
  • Toronto real estate board lowers forecast for sales, prices
Bloomberg business news

Toronto Home Demand Slides as Sales Drop Most in 8 Years

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Toronto’s housing market is losing steam.

A series of government measures and the prospect of higher interest rates boosted listings and sparked the biggest sales decline in more than eight years last month, the Toronto Real Estate Board reported Thursday. Average home prices rose just 6.3 percent to C$793,915 ($612,000), the smallest annual increase since January 2015.